McEwen Mining (NYSE: MUX) (TSX: MUX), a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina, is reporting on its October and November production as well as forecasting numbers for the remainder of the year; the company also released its guidance for 2023. According to the announcement, total production for October and November reached an estimated 26,700 gold equivalent ounces (“GEO”) with preliminary costs per ounce from McEwen’s 100%-owned operations of $826 for cash costs and $1,088 for all-in sustaining. The report noted that at San José Mine, costs per ounce for October and November were $1,361 for cash costs and $1,745 for all-in sustaining. The report also noted that consolidated production guidance for 2023 represents an 11% to 25% increase from 2022 forecast production. The bottom line? Production is increasing and costs per ounce are falling, the company stated. “As we end 2022, we would like to give our shareholders an update on our recent production results and costs, which illustrate the turnaround we are executing as well as our guidance for 2023. We had a difficult start to 2022, but it is clear that we are trending up and in the right direction as we move into the new year,” said McEwen Mining chair and chief owner Rob McEwen in the press release.
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About McEwen Mining Inc.
McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, it owns 68% of McEwen Copper, which owns the large, advanced-stage Los Azules copper project in Argentina. The company’s goal is to improve the productivity and life of its assets with the objective of increasing its share price and providing a yield. McEwen’s chair and chief owner has personally provided the company with $220 million and takes an annual salary of $1. To learn more about the company, visit www.McEwenMining.com.
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